Core Insights - The company Zhiyu, one of the "AI Six Dragons," is facing layoffs ahead of its IPO, but it claims that these rumors are isolated incidents and that there are currently around 50 job openings available [1] - Zhiyu has submitted its listing guidance to the Beijing Securities Regulatory Bureau, with China International Capital Corporation as its advisory firm [1] - The company has recently posted job openings for various positions, including algorithm engineers, product managers, and sales roles, totaling 47 positions [1][7] Company Overview - Zhiyu, officially known as Beijing Zhiyu Huazhang Technology Co., Ltd., was established in 2019 and is headquartered in Beijing, originating from the technology transfer of Tsinghua University's Knowledge Engineering Laboratory [7] - The founding team includes notable figures such as Chief Scientist Tang Jie, Chairman Liu Debing, CEO Zhang Peng, and President Wang Shaolan, with Tang having previously served as a professor at Tsinghua University [7] Product Development - The company has developed a product matrix that includes AIGC models such as Zhiyu Qingyan, CodeGeeX, CogVLM, and CogView, and has launched a large model MaaS open platform [8] - On September 30, Zhiyu released and open-sourced its next-generation large model GLM-4.6, which reportedly achieved a 27% improvement in core capabilities compared to its predecessor GLM-4.5 [8] Financial Background - In March, Zhiyu completed a strategic financing round exceeding 1 billion RMB, with participation from various investment firms, indicating strong financial backing [8] - The company has completed over 10 rounds of financing, attracting investments from well-known institutions such as Meituan, Ant Group, Alibaba, Tencent, Xiaomi, and Sequoia [8] Industry Challenges - Domestic large model startups, including Zhiyu, are facing multiple challenges, including difficulties in transitioning technology from labs to real-world applications and low consumer willingness to pay [9] - The company must navigate pressures from larger tech giants like Baidu, Alibaba, and Huawei, which have advantages in data, scenarios, and funding [9] - Industry predictions suggest that only a few foundational large models will survive, emphasizing the need for Zhiyu to differentiate itself in technology and application [9]

Core Viewpoint - The company Zhiyu, one of the "AI Six Dragons," is facing rumors of layoffs before its IPO, but it claims to have nearly 50 job openings available, indicating ongoing recruitment efforts [2][12]. Company Overview - Zhiyu, officially known as Beijing Zhiyu Huazhang Technology Co., Ltd., was established in 2019 and is headquartered in Beijing. It is a leading player in the domestic large model sector and the first among the "AI Six Dragons" to apply for an IPO [12]. - The founding team includes notable figures such as Chief Scientist and Founder Tang Jie, Chairman Liu Debing, CEO Zhang Peng, and President Wang Shaolan, with backgrounds in Tsinghua University [12]. Recruitment and Job Openings - Zhiyu has recently announced 47 job openings across various categories, including algorithm engineers, engineering and development roles, product and design positions, and sales and solutions roles [2][12]. Financial Background - In March, Zhiyu completed a strategic financing round exceeding 1 billion RMB, with participation from several well-known investment firms, indicating strong financial backing [13]. - The company has completed over 10 rounds of financing, attracting investments from major players such as Meituan, Ant Group, Alibaba, Tencent, Xiaomi, and Sequoia [13]. Product Development - Zhiyu has developed a product matrix that includes AIGC models such as Zhiyu Qingyan, CodeGeeX, CogVLM, and CogView. Recently, it released and open-sourced a new generation large model, GLM-4.6, which reportedly shows a 27% improvement in core capabilities compared to its predecessor [13]. Industry Challenges - Domestic large model startups, including Zhiyu, are facing multiple challenges, such as the difficulty of transitioning models from laboratory settings to real-world applications, low consumer willingness to pay, and the pressure from larger tech companies like Baidu, Alibaba, and Huawei [14]. - The founder of Zero One Wanwu, Li Kaifu, predicts that only a few companies, including DeepSeek, Alibaba, and ByteDance, will remain in the competitive landscape of foundational large models [14].

Group 1 - Beijing Zhiyu Huazhang Technology Co., Ltd. (referred to as "Zhiyu") is considering moving its IPO plan from mainland China to Hong Kong, potentially raising around $300 million (approximately HKD 2.34 billion) [1] - Zhiyu is preparing for both Hong Kong and A-share listings, with a higher probability of an A-share listing [1] - The company is one of several Chinese startups attempting to compete globally with OpenAI [1] Group 2 - Zhiyu focuses on developing a new generation of cognitive intelligent large models, including the bilingual pre-trained model GLM-130B and the dialogue model ChatGLM [2] - The company has created a matrix of AIGC models and products, including AI efficiency assistant Zhiyu Qingyan, CodeGeeX, CogVLM, and CogView [2] - Zhiyu promotes a "Model as a Service" (MaaS) market concept, providing a platform for efficient and generalized AI development [2] Group 3 - Zhiyu has undergone several rounds of financing, with investors including Meituan, Ant Group, Alibaba, Tencent, Xiaomi, Sequoia, Hillhouse, and others [3]

作者｜ Stone Jin 微信公众号｜ipozaozhidao 第一家正式启动IPO流程的"大模型创业公司"。 本文为IPO早知道原创 据 IPO早知道消息， 北京智谱华章科技股份有限公司 （以下简称 " 智谱 "）于2025年3月31日同中 金公司签署辅导协议，正式启动 A 股 IPO进程。 这意味着，智谱成为 "大模型创业公司"中第一家正式启动上市流程的企业 。 成立于 2019年的智谱 致力于打造新一代认知智能大模型 。早在 2020年 年 底 ，智谱就研 发 了 GLM预训练架构， 并于 2021年训练完成百亿参数模型GLM-10B，同年利用MoE架构成功训练出收 敛的万亿稀疏模型，2022年研发了中英双语千亿级超大规模预训练模型GLM-130B并开源。2023 年，智谱推出千亿基座对话模型ChatGLM并两次升级，开源版本的ChatGLM-6B让大模型开发者的 本地微调和部署成为可能 。 2024年1月，智谱推出新一代基座大模型GLM-4，整体性能相比上一代大幅提升；6月开源GLM-4- 9B及视觉模型GLM-4V-9B，多模态能力媲美GPT-4V；7 月推出视频生成模型CogVideoX，推理速 ...

Core Insights - The article highlights significant developments in the AI industry, including major investments, product launches, and strategic shifts by leading companies [2][24]. Domestic Developments - Alibaba is reportedly aiming for full "AI integration" across its business by 2025, with all departments evaluated on their AI utilization for growth [4][5]. - Notable investor Duan Yongping purchased $9.25 million worth of Nvidia shares, but Nvidia's stock fell by 3.43% on the day of the announcement [5]. - Manus has registered its generative AI service Monica in Beijing, with the city leading in the number of registered large model products [5]. - The Step-Video-TI2V model was released, capable of generating 5-second videos with controllable motion [5]. - Yushutech showcased its humanoid robot and quadruped robot at AWE2025, attracting significant attention [6]. - The AI service Deepseek will assist users in estimating repair costs, enhancing transparency in pricing [8]. - Xiaomi's AI search and writing tools were among 34 newly registered generative AI services in Beijing [14]. International Developments - OpenAI launched new voice models aimed at developing voice AI agents, marking a significant advancement in the field [14]. - Elon Musk's xAI is collaborating with BlackRock to establish an AI infrastructure investment fund, indicating a competitive stance against OpenAI [15]. - Apple is restructuring its AI leadership to revitalize its AI initiatives, particularly focusing on improving Siri [15][16]. - Nvidia introduced the GROOT N1, an open-source humanoid robot model, which is expected to accelerate the development of humanoid robots [19][21]. - Google announced a $32 billion acquisition of cloud security company Wiz, enhancing its cloud capabilities in the AI era [21]. Investment and Financing Overview - This week, there were 7 disclosed AI financing events globally, totaling approximately 563 million RMB, with an average investment of 94 million RMB [25][31]. - The majority of domestic AI financing events were concentrated in Zhejiang and Beijing, with 4 and 3 events respectively [28]. - Zhihui AI, a developer of AI knowledge technology, completed a 300 million RMB D++ round financing, focusing on large model innovations [31].

Core Insights - The article provides an overview of the latest trends in domestic investment and financing events, highlighting a decrease in the number of financing events compared to the previous week, with a total of 54 events reported this week [4]. Group 1: Investment Overview - A total of 54 financing events were disclosed in the domestic primary market this week, a decrease of 31 events compared to last week [4]. - Among the disclosed financing events, 20 reported financing amounts, with a total financing scale of 1.233 billion RMB, resulting in an average financing amount of 62 million RMB [4]. Group 2: Industry Distribution - The most active sectors in terms of financing events this week were intelligent manufacturing, healthcare, and artificial intelligence, with 19, 7, and 7 events respectively [5]. - In terms of disclosed financing amounts, the artificial intelligence sector led with a total financing scale of approximately 563 million RMB, highlighted by the D-round financing of 300 million RMB for "Zhipu AI," a developer of AI knowledge intelligence technology [5][6]. - The intelligent manufacturing sector reported a total financing amount of 270 million RMB, with "Gongjin Microelectronics," a provider of advanced packaging and testing services, completing over 100 million RMB in A-round financing [6]. Group 3: Regional Distribution - The disclosed financing events were primarily concentrated in Jiangsu, Beijing, and Zhejiang, with 14, 12, and 10 events respectively [9]. - Jiangsu reported a total financing of 180 million RMB across 4 disclosed events, while Beijing had 393 million RMB from 5 disclosed events, and Zhejiang reported 430 million RMB from 8 disclosed events [11]. Group 4: Stage Distribution - The stage distribution of the disclosed financing events showed that 44 were early-stage, 9 were growth-stage, and 1 was late-stage [12]. Group 5: Mergers and Acquisitions - A total of 14 completed merger and acquisition events were disclosed this week, an increase of 6 events compared to the previous week, spanning traditional industries, intelligent manufacturing, and tourism [24]. - Notably, "Huaxing Optoelectronics" acquired 80% of "China Legin," an electronic components wholesaler, for 7.37 billion RMB [24].

以下文章来源于LP波谱 ，作者鲁智高 黎曼 LP波谱 . 本账号专注LP市场报道。"波浪、谱系"是识别市场的维度，也是定义市场的坐标；此外，波谱（Pop Art）也意为放低意义与史诗 的执念，认同商业的日常之美。 将投中网设为"星标⭐"，第一时间收获最新推送 一个月不到，融了三轮。 作者丨鲁智高 黎曼 来源丨LP波谱 刚刚，智谱又双叒叕获得融资了。 2025年3月19日，成都高新区宣布向智谱注资3亿元，共同打造四川省基座大模型"智谱AI诸葛"，并建设三位一体的AI基础设 施，目标在5年内支持超1000家企业AI转型，孵化20家生态企业。 这是智谱本月内的第三次融资了。 3月3日，杭州城投产业基金、上城资本联合投资智谱超10亿元，推动GLM（General Language Model）大模型在长三角落 地；3月13日，珠海最大的综合国企"华发集团"宣布战略投资智谱5亿元，并与珠海高新区、智谱联合搭建首个城市级GLM大 模型空间——"智谱+珠海华发空间"。 自DeepSeek火出圈后，智谱是还在继续疯狂融资的国产大模型企业。一个月不到融三轮，总计拿下18亿元，这家估值已经突 破200亿元的北京明星独角兽可谓是" ...

Core Viewpoint - The article highlights significant developments in the AI sector, particularly focusing on Shenzhen's action plan to accelerate the growth of the AI terminal industry, aiming for a market size of over 800 billion yuan by 2026, with a target of 1 trillion yuan [1][4]. Group 1: Shenzhen's Action Plan - Shenzhen's action plan includes the introduction of innovative smartphone products, transitioning from "smart tools" to "smart assistants" [1][5]. - The plan aims to enhance the core competitiveness of the AI terminal industry, with a target of producing over 1.5 billion AI terminal products and launching more than 50 popular AI terminal products across various categories by 2026 [4][5]. - The initiative emphasizes the development of AI smartphones, computers, and wearable devices, focusing on specific applications in smart finance, smart healthcare, and smart cities [5][6]. Group 2: Market Reactions - Following the announcement of the action plan, local stocks such as Deep Konka A and Shenzhen Saige experienced significant price increases, with some reaching their daily limit [1]. - The stock market response indicates strong investor confidence in the potential growth of the AI sector in Shenzhen [1]. Group 3: Strategic Financing in AI - On the same day, Zhiyu AI announced a new round of strategic financing exceeding 1 billion yuan, aimed at advancing the development of its GLM large model technology [2][8]. - This financing will support the company's efforts to enhance its AI capabilities and contribute to the digital transformation of industries in the Zhejiang province and the Yangtze River Delta region [8][10]. - Zhiyu AI's previous financing round of 3 billion yuan just two months prior highlights the growing interest and investment in AI technologies [8][9].